UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
WILSHIRE REAL ESTATE INVESTMENT TRUST INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.0001 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
971892104
- --------------------------------------------------------------------------------
(CUSIP Number)
Andrew A. Wiederhorn
c/o Wilshire Financial Services Group Inc.
1776 SW Madison Street
Portland, Oregon 97205
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
12/1/99
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|
Check the following box if a fee is being paid with this statement |_|. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
<PAGE>
SCHEDULE 13D
CUSIP No. 971892104 Page 2 of 6 Pages
- ----------------------- -----------------------
NAME OF REPORTING PERSONS Andrew A. Wiederhorn
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
2 (b) |_|
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS N/A
4
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
6
- --------------------------------------------------------------------------------
SOLE VOTING POWER 50,000
7
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER 716,633
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH SOLE DISPOSITIVE POWER 50,000
REPORTING 9
PERSON WITH ------------------------------------------------------
SHARED DISPOSITIVE POWER 716,633
10
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT
PERSON
11 766,633
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
12 [ ]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7%
13
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON IN
14
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 971892104 Page 3 of 6 Pages
- ----------------------- -----------------------
NAME OF REPORTING PERSONS Tiffany Wiederhorn
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
2 (b) |_|
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS PF
4
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
6
- --------------------------------------------------------------------------------
SOLE VOTING POWER 603,001
7
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER 766,633
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH SOLE DISPOSITIVE POWER 603,001
REPORTING 9
PERSON WITH ------------------------------------------------------
SHARED DISPOSITIVE POWER 766,633
10
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT
PERSON
11 766,633
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
12 [ ]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7%
13
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON IN
14
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 971892104 Page 4 of 6 Pages
- ----------------------- -----------------------
NAME OF REPORTING PERSONS TTMM, L.P.
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Intentionally omitted)
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
2 (b) |_|
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS WC
4
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
6
- --------------------------------------------------------------------------------
SOLE VOTING POWER 100,000
7
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER 0
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH SOLE DISPOSITIVE POWER 100,000
REPORTING 9
PERSON WITH ------------------------------------------------------
SHARED DISPOSITIVE POWER 0
10
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT
PERSON
11 100,00
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
12 [ ]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.8%
13
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON PN
14
- --------------------------------------------------------------------------------
<PAGE>
Items 3 and 5 of the Schedule 13D, dated March 16, 1999, as amended,
relating to the Common Stock, par value $0.0001 of Wilshire Real Estate
Investment Inc., a Maryland corporation, are hereby amended in their entirety as
set forth below. Terms not defined herein shall have the meaning ascribed
thereto in the Schedule 13D.
Item 3. Source and Amount of Funds or other consideration
The source and amount of funds (including commissions) used by each of the
Reporting Persons to acquire shares of Common Stock reported in Item 5 below was
as follows:
Name Amount Source of Funds
Andrew A. Wiederhorn $109,375.00 personal funds
Tiffany Wiederhorn $2,063,876.05 personal funds
TTMM, LP $375,000.00 working capital
Item 5. Interest in Securities of the Issuer
Set forth below is certain information concerning all transactions in the
Common Stock in which Reporting Persons engaged during the past 60 days. All of
such transactions were effected on Nasdaq.
Name Transaction Date Number of Shares Price Per Share
Andrew Wiederhorn 12/1/99 50,000 2 3/16
Tiffany Wiederhorn 9/30/99 1,000 3
The ownership by the Reporting Persons of shares of Common Stock and the
percentage of the outstanding shares of Common Stock represented thereby is as
follows:
Name Number of Shares Percentage
Andrew Wiederhorn 766,633(1) 6.7%
Tiffany Wiederhorn 766,633(2) 6.7%
TTMM, L.P. 100,000 0.8%
- ---------
(1) Includes 716,633 shares of Common Stock owned by the other Reporting
Persons. Andrew Wiederhorn shares voting and dispositive power with respect
to the shares of Common Stock owned by the other Reporting Persons and may
be deemed to be the beneficial owner of all such shares. Andrew Wiederhorn
disclaims beneficial ownership of any of the shares of Common Stock owned
by the other Reporting Persons. Also includes 13,632 shares of Common Stock
owned by Andrew and Tiffany Wiederhorn's minor children. Andrew Wiederhorn
shares voting and dispositive power with respect to such shares of Common
Stock and may be deemed to be the beneficial owner of such shares. Andrew
Wiederhorn disclaims beneficial ownership of such shares of Common Stock.
(2) Includes 163,632 shares of Common Stock owned by the other Reporting
Persons. Tiffany Wiederhorn shares voting and dispositive power with
respect to the shares of Common Stock owned by the other Reporting Persons
and may be deemed to be the beneficial owner of such shares. Tiffany
Wiederhorn disclaims beneficial ownership of such shares of Common Stock.
Also Includes 13,632 shares of Common Stock owned by Andrew and Tiffany
Wiederhorn's minor children. Tiffany Wiederhorn shares voting and
dispositive power with respect to such shares of Common Stock and may be
deemed to be the beneficial owner of such shares. Tiffany Wiederhorn
disclaims beneficial ownership of such shares of Common Stock.
<PAGE>
Signatures
After reasonable inquiry and to the best of knowledge and belief of each
person or entity set forth below, each such person or entity certifies that the
information set forth in this Statement is true, complete and correct.
December 20, 1999 /s/ Andrew A. Wiederhorn
----------------------------------------
Andrew Wiederhorn
December 20, 1999 *
----------------------------------------
Tiffany Wiederhorn
December 20, 1999 TTMM, LP
By: IVY CAPITAL PARTNERS, L.P.,
its general partner
By: WIEDERHORN FAMILY LIMITED
PARTNERSHIP, its general partner
By: *
------------------------------------
Tiffany Wiederhorn,
its general partner
* By: /s/ Andrew A. Wiederhorn
-----------------------------
Andrew A. Wiederhorn
Attorney-in-fact
<PAGE>
